Bankruptcy Attorneys in Tucson, Arizona
When it comes to legal representation, Eric Ollason Attorney at Law understands that satisfaction lies in loving what you do. Our Tucson bankruptcy lawyer has practiced in several different legal capacities but has found his true calling in representing those who deserve a fresh start through bankruptcy.
For nearly 20 years, our Tucson bankruptcy law firm has delivered positive results to our clients by helping them understand their rights, and how the law can help them start anew. Not unlike other legal matters, bankruptcy proceedings require a skilled Tucson bankruptcy attorney to administer the paperwork, while managing client expectations with simple explanations and guidelines.
Our Tucson bankruptcy attorneys law firm focuses on bankruptcy law because we believe everyone deserves a legal means of becoming financially whole again.
We provide exceptional representation while partnering with individuals and families alike to understand how to get through these tough financial times together.
The Principles of Bankruptcy
Bankruptcy provides much more than a fresh start to the person or entity who examines its benefits. First, bankruptcy can provide an additional debt reduction option for someone, or even a company, who needs help rediscovering their financial viability.
Simply put, it allows the person or business to be released from the debt of its creditors, enhancing their spending power, stimulating the economy around them, instead of being beholden to their current creditors.
Who Can File for Bankruptcy in Arizona?
In the state of Arizona, everyone can file for bankruptcy when they meet the criteria as outlined by the law. If you are not able to file, it is simply because of the statutory laws that are in effect concerning your specific case. Our Tucson bankruptcy attorney can help you determine your eligibility and provide you with personalized options to move forward.
When our residents are seeking answers to their most pressing bankruptcy questions, so they can address their overall financial concerns, our compassionate Arizona bankruptcy lawyer can help each person, couple, and family effectively navigate both state and federal bankruptcy laws.
The U.S. Bankruptcy Code requires the qualifying dollar amounts and limitations listed therein to be adjusted every three years to account for inflation.
Effective April 1, 2022, the amounts increased by 11%.
If you have already filed for bankruptcy and were unable to proceed with the court appearance to discharge your financial obligations fully and legally, you may be able to refile and get the clean start you deserve.
Contact our skilled bankruptcy attorney in Tucson today to learn more about the eligibility requirements and allow us to take a fresh look at your finances.
What are the Benefits of Filing Bankruptcy in Arizona?
Bankruptcy helps individuals, businesses, and the public from an economic standpoint.
The overall benefits of filing bankruptcy in Arizona include, but are not limited to:
- You are granted an automatic stay, so creditors cannot pursue payment of your debts or take further action against you until the bankruptcy is discharged or a repayment plan has been finalized.
- You will receive relief from dealing with multiple creditors, mitigating the pressure, and overwhelming nature of threatening communications from different parties.
- You will be protected from further legal action related to the non-payment of debts.
- Depending on the type of bankruptcy that is right for your financial needs, you may be able to keep some assets and/or prevent foreclosure on your home, or the repossession of your vehicle(s).
- Your debts will be settled for less than what you owe or discharged altogether.
- All bankruptcy decisions are final, and cannot be reversed, giving you and your family a fresh start so you can reestablish your credit responsibly.
Bankruptcy allows an individual or business to reorganize or liquidate their debt, allowing them to become free from the specific creditors in their case. This enhances spending power and eliminates the evils of interest rates that were piling up and boosting the creditors’ bottom lines.
That money, in turn, is being put to good use throughout the economy, instead of spoiling in late fees and interest hikes that drag individuals into deeper debt.
If you would like to learn more about your eligibility to file for bankruptcy in Arizona, contact our skilled Tucson attorney today to schedule a free financial assessment.
What Types of Debt Cannot Be Forgiven By Filing Bankruptcy in Arizona?
There are several types of debts that cannot be forgiven simply by filing for bankruptcy in Arizona. It is important to understand each of these fully, especially if they are applicable to your debt.
Child support, tax liens, debts that were incurred by way of fraud, and court fines cannot be removed during a bankruptcy filing. These items, and others, are part of the non-dischargeable section on the bankruptcy code, Section 523.
Financial Accountability & Bankruptcy Laws in Arizona
It is important to understand that bankruptcy does not exist as a way of discharging a debt that was purposely developed without the intention of paying. Individuals cannot irresponsibly rack up credit card after credit card and run to the hills of bankruptcy to recover financially.
The circumstances that lead to bankruptcy are innumerable and result from real issues that are keeping families in debt while they wallow in financial ruin. In fact, in our nearly twenty years of bankruptcy focus, we have yet to meet an individual who is happy to have contacted us.
Medical debts, disabilities, threats of foreclosure because of lost wages, layoffs or income cuts are all items that plague financial livelihoods, and these are the people we are committed to helping.
Our Tucson bankruptcy attorney understands the uncertainty that lies behind the fact that you can no longer pay your bills while supporting yourself and/or your family.
In fact, we understand that the moment you miss a payment with a creditor, your situation worsens immediately. Late fees, hikes in interest rates, threats, harassing phone calls, and letters can lead to poor physical and emotional health as the burden becomes too much to bear. We understand, and we want to help.
Our Tucson, Arizona bankruptcy attorney and professional support staff want each of our clients to understand that there is nothing to be ashamed of, despite the mumblings from Congress and the wealthy. These two groups believe that individuals simply quit their jobs one day and file for bankruptcy the next, laughing their way out of debt without consequence. Nothing could be further from the truth.
Considering bankruptcy is a very serious acknowledgment and is often a realization that leads to severe self-doubt within families. How did I get here?
What happened? Our Tucson bankruptcy attorney can help individuals and families alike answer those questions while helping them start their financial lives over again.
Partnering with a Financially Focused Tucson Bankruptcy Attorney
Bankruptcy is a personal decision that individuals make when they can no longer see the light at the end of the financial tunnel. We understand fully that the only way to return to a less-stressful existence is by partnering with a qualified, experienced Tucson bankruptcy lawyer.
We provide a private forum for individuals to discuss their current financial existence, no matter how bad they think it might be. In the twenty years that we have been specializing in bankruptcy law, our Tucson bankruptcy lawyer understands that it is important to partner with our clients so they can feel the trust and understanding within our communications.
We do not deliver advice over the Internet, nor do we take bankruptcy cases simply by asking our prospective clients to fill out forms and get in line for court.
Our Tucson bankruptcy lawyer talks to our clients in person, with our initial consultation and introduction as a starting point to the process. There is no need to bring your personal and financial documents with you at first. We simply want to understand your specific situation and help calm the chaos that is your current financial state.
Our Tucson bankruptcy lawyer is a Board Certified Bankruptcy Specialist approved by the Arizona State Bar. With that distinction comes integrity, honesty, and exceptional representation to get our clients’ livelihoods back in focus.
Bankruptcy Case Focus in Tucson, Arizona
We are often asked what type of cases we handle, and as bankruptcy specialists, we could certainly generalize that we take “all kinds.” The truth is, we focus on individuals and small businesses who feel like they have nowhere else to turn.
The feeling of financial ruin is enough to hinder any positive growth in a person’s life or business. We want to help them understand that it is not the end of the world, and financial viability is possible again.
Whether you are an individual with $20,000 in credit card debt or a small business on the verge of financial ruin, our Tucson bankruptcy lawyer can help stop the harassing phone calls and notices from your creditors while devising a plan to discharge your debt and get you back on track. Our Tucson bankruptcy law firm also represents larger businesses by helping them rewrite existing mortgages and re-amortized them over a longer period to lower the payments.
No matter what your circumstances are, it is important to understand that our Tucson, Arizona bankruptcy attorney can help you without judgment, but with solutions.
Setting Ourselves Apart from Other Bankruptcy Options
Our Tucson bankruptcy attorney, Eric Ollason, is a Board Certified Bankruptcy Specialist approved by the Arizona State Bar. Our law office’s collective experience allows us to take the stress of a bankruptcy proceeding and place it squarely on our able shoulders, allowing our clients to begin breathing calmly again.
We can help our clients decide if bankruptcy is right for them, simply by having an initial conversation. A lot of times bankruptcy is not the question – as most people get the point of no return before even contacting an attorney – but which chapter of bankruptcy will make them whole again.
Through a series of questions and answers, we can determine the next steps for our individual client’s needs. As partners in the process, we make the decision together as to which Chapter is best.
Some of the criteria for deciding whether Chapter 7, Chapter 11, or Chapter 13 is right for the client to include the amount of debt, how much the client makes, and what type of assets they have. Also, do they run a business? Have they filed before? Those are just some of the criteria that will help our Tucson bankruptcy lawyer determine whether, or what type of, bankruptcy is best for them.
Confident and Experienced Tucson, Arizona Bankruptcy Lawyers
Our legal team has been practicing bankruptcy law for more than 20 years together. This unique legal dynamic allows us to work as a complete team when determining which bankruptcy options work best for our clients. Our Tucson bankruptcy attorney takes the time to establish a real relationship with our clients because we know how frightened and nervous they are about the process and about their future.
We are financial and legal counselors that deliver solutions and allow our clients to become a positive economic impact within their community again. If you are tired of keeping your head above the financial waters, call our Tucson, Arizona bankruptcy lawyer at (520) 389-5680 to discover how we can help.
Frequently Asked Questions for Our Bankruptcy Attorney in Tucson, Arizona
What are the Common Warning Signs that May Lead to Bankruptcy in Arizona?
One of the first common warning signs that may lead to bankruptcy in Arizona include consistently spending more than you earn, which can lead to significant credit card debt or loans. Others can include delaying essential expenditures due to lack of funds, and frequently worrying about money, which is often followed by harassing communication from creditors.
How Long Do I Have to Live in Arizona to File Bankruptcy There?
The residency requirements for filing for bankruptcy in Arizona are that individuals must have resided here for the greater part of the 180 days preceding the filing, which is any time after being an Arizona resident for 90 days.
What Documents Are Needed to File for Bankruptcy Protection in Arizona?
Common documents that are necessary to begin the bankruptcy process in Arizona include valid forms of identification, proof of all forms of income, all bank account statements, any existing loan documents, retirement and investment account records, two years of tax return documents, and divorce documentation (if applicable).
Can an Arizona Bankruptcy Clear My Credit Card Debt?
One of the most common questions our Arizona bankruptcy lawyer receives is whether filing for bankruptcy protection can their credit card debt. The reality is, there is more to know about filing for bankruptcy than the fact that it can get rid of your credit card debt. To determine your eligibility to file for bankruptcy in Arizona, we must begin by evaluating your debt-to-income ratio. Once we know the extent of your financial position, we can provide real-time solutions to address your credit card debt.
Can I File For Bankruptcy Without An Attorney In Arizona?
If you are wondering if you can file for bankruptcy in Arizona without an attorney, the answer is, technically, yes. There is even a name for it, which is called filing pro se. But there are many reasons why you should not. Filing personal Chapter 7 or Chapter 13 bankruptcy require careful preparation and a complete understanding of the legal issues associated with your filing. A simple misunderstanding of the law or a single mistake in the process can affect your rights. Our skilled Tucson bankruptcy attorney can ensure you get it right the first time, so you can move forward with confidence.
What Can I Do If My Bank Account Has Been Garnished in Arizona?
If your bank account has been garnished by a creditor in Arizona, our Tucson bankruptcy attorney, Eric Ollason, knows our state’s garnishment procedures are extremely complicated and are governed by Arizona laws. That means all parties involved must follow properly follow all collection policies, or risk being penalized for using unlawful debt collection practices. When they do not, we may be able to recover some or all your funds.
Can I Still Use Credit Cards After Filing for Bankruptcy in Arizona?
When Arizona residents have their bankruptcy discharged, they may begin looking for ways to start rebuilding their credit. They often find it is still possible to get a credit card, although they may only be eligible for secured cards or cards designed for those with poor or limited credit. We encourage all our Arizona bankruptcy clients to be careful about obtaining another credit card and potentially throwing yourself back into debt after bankruptcy. Credit cards, especially ones with high interest rates that are often the initial option after a successful bankruptcy are designed to keep you in debt. Instead of leaning on credit during emergencies, bankruptcies can provide our clients with a fresh start that allows them to begin saving money, which can be used when unexpected expenses arise.